(a) Every person who anticipates any income subject to the tax imposed herein at Section 185.03 shall file a declaration setting forth such estimated income or the estimated profit or loss from such business activity together with the estimated tax due thereon, if any. Such declaration shall be filed on or before April 15th of each year during the life of this chapter, or within three months and fifteen days of the date the taxpayer becomes subject to the tax for the first time.
(1) Those taxpayers reporting on a fiscal year basis shall file a declaration within four months after the beginning of each fiscal year or period.
(2) Such declaration shall be filed upon a form furnished by or obtainable from the Commissioner. Credit shall be taken for Whitehouse income tax to be withheld, if any, from any portion of such income. In addition, credit may be taken for the tax payable to other taxing municipalities in accordance with the provisions of Section 185.14.
(3) The original declaration or any subsequent amendment thereof may be increased or decreased on or before any subsequent quarterly payment date as provided for herein.
(b) The taxpayer making the declaration shall, at the time of the filing thereof, pay to the Commissioner at least twenty-two and one half percent (22-1/2%) of the estimated annual tax due after deducting:
(1) Any portion of such tax to be deducted or withheld at the source pursuant to Section 185.06;
(2) Any credits allowable under the provisions of Section 185.14; and
(3) Any overpayment of previous year's tax liability which the taxpayer has not elected to have refunded.
At least a similar amount shall be paid on or before the last day of the seventh (7th), tenth (10th) and thirteenth (13th) months after the beginning of the taxpayer's taxable year, provided that in case an amended declaration has been duly filed, or the taxpayer is taxable for a portion of the year only, the unpaid balance shall be paid in equal installments on or before the remaining payment dates.
(c) The declarations for the 2nd, 3rd, and 4th quarters shall be due on July 31st and October 31st of the current year and on January 31st of the subsequent year. The amounts due on those dates are not to exceed forty-five percent (45%), sixty-seven and one-half percent (67-1/2%) and ninety per cent (90%) respectively of the tax estimated to be due.
(O.R.C. 718.08)
(O.R.C. 718.08)
(d) Taxpayers reporting on a fiscal year basis shall file a Declaration within four (4) months and fifteen days after the beginning of each fiscal year and thereafter at the end of the 7th, 10th and 13th months.
(e) Effective January 1, 2003, no penalty or interest will be assessed for late payment or nonpayment of estimated taxes, if the taxpayer was not domiciled in Whitehouse on the 1st day of January of the current calendar year or if the taxpayer has paid estimated payments equaling one hundred per cent (100%) of the taxpayer's liability for the immediately preceding tax year, provided that the immediately preceding tax year reflected a 12 month tax period and the taxpayer filed a return for the immediately preceding year.
(O.R.C. 718.08)
(O.R.C. 718.08)
(f) On or before the 15th day of the fourth (4th) month of the year following that for which such declaration or amended declaration was filed, an annual retum shall be filed and any balance which may be due to Whitehouse shall be paid therewith in accordance with the provisions of Section 185.05.
(Ord. 23-2003. Passed 11-18-03.)